The State Where Laura's Father Had Lived Passes a Statute

question 42

Multiple Choice

The State where Laura's father had lived passes a statute which requires that male heirs be preferred over female heirs in selecting an executor of an estate.Laura,a lawyer,would like to be the executor of her father's estate,but so would her eighteen-year-old brother who just flunked out of college.She challenges the provision as being a violation of the Equal Protection Clause of the Fourteenth Amendment.The case is now under consideration by the United States Supreme Court.In deciding the constitutionality of the provision,the Court will:

• A) apply the rational relationship test.
• B) apply the strict scrutiny test.
• C) apply the intermediate standard test.
• D) create a new test.

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Definitions:

Loss of Control

Refers to the event where an entity no longer has the power to govern the financial and operating policies of another entity to obtain benefits from its activities.

Other Comprehensive Income

Other comprehensive income includes revenues, expenses, gains, and losses that are not included in net income and are directly recorded to equity, reflecting the company's total comprehensive income.

AASB 127

A standard issued by the Australian Accounting Standards Board that deals with consolidated and separate financial statements.

Indirect Non-Controlling Interest

An ownership interest in an entity that is held through another entity, not directly by the owners.